Bruker (NASDAQ:BRKR) Price Target Raised to $64.00

Bruker (NASDAQ:BRKR) had its price objective hoisted by Citigroup from $53.00 to $64.00 in a research note published on Thursday, MarketBeat Ratings reports. The firm currently has a hold rating on the medical research company’s stock.

BRKR has been the topic of a number of other reports. TD Cowen increased their price target on shares of Bruker from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, October 13th. UBS Group started coverage on shares of Bruker in a report on Wednesday, September 9th. They set a “neutral” rating and a $65.00 price objective for the company. Guggenheim upped their target price on shares of Bruker from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, October 1st. Leerink Partners upped their target price on shares of Bruker from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Barclays increased their target price on shares of Bruker from $58.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Bruker has an average rating of “Moderate Buy” and an average price target of $60.57.

Bruker Trading Up 5.6%

NASDAQ:BRKR opened at $61.31 on Thursday. Bruker has a 1-year low of $32.37 and a 1-year high of $68.98. The business’s 50-day moving average price is $59.01 and its two-hundred day moving average price is $50.59. The company has a current ratio of 1.84, a quick ratio of 0.92 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of -55.74, a PEG ratio of 1.79 and a beta of 1.26.

Bruker (NASDAQ:BRKR) last issued its earnings results on Wednesday, November 4th. The medical research company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.14. The firm had revenue of $874.00 million for the quarter, compared to analysts’ expectations of $865.16 million. Bruker had a positive return on equity of 13.76% and a negative net margin of 3.82%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 earnings per share. On average, equities analysts expect that Bruker will post 2.13 earnings per share for the current year.

Bruker Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Monday, September 21st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 21st. Bruker’s payout ratio is presently -18.18%.

Insider Activity

In other news, VP Mark Munch sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $52.87, for a total transaction of $105,740.00. Following the sale, the vice president owned 134,806 shares of the company’s stock, valued at $7,127,193.22. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 27.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bruker

Several institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in Bruker by 140.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 29,990 shares of the medical research company’s stock worth $1,942,000 after buying an additional 17,534 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Bruker by 23.2% in the third quarter. Maryland State Retirement & Pension System now owns 6,287 shares of the medical research company’s stock valued at $407,000 after buying an additional 1,185 shares during the period. AlphaCore Capital LLC bought a new stake in shares of Bruker during the third quarter worth $410,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Bruker by 5.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 169,766 shares of the medical research company’s stock worth $10,515,000 after acquiring an additional 8,938 shares during the period. Finally, Brighton Jones LLC lifted its position in Bruker by 11.2% in the 3rd quarter. Brighton Jones LLC now owns 12,436 shares of the medical research company’s stock valued at $805,000 after acquiring an additional 1,248 shares in the last quarter. 79.52% of the stock is currently owned by institutional investors and hedge funds.

Bruker Company Profile

Bruker Corporation develops and manufactures scientific instruments, analytical systems and related software used to study materials, molecules and biological processes. Its technologies support research, discovery and quality control in fields including life sciences, pharmaceutical development, chemical analysis, materials science, environmental testing and clinical research.

The company’s product portfolio includes nuclear magnetic resonance and electron paramagnetic resonance systems, mass spectrometers, infrared and Raman spectroscopy instruments, X-ray analysis equipment, microscopy and nanoanalysis systems, and preclinical imaging technologies.